Could Living Above a Costco Change the Way We View Affordable Housing?

A new housing project will launch in Los Angeles, featuring a Costco store and 800 apartments. The development in Baldwin Hills will include 184 units for low-income families and a mix of affordable and workforce housing. It will have a rooftop pool and fitness center. The Costco will cover 185,000 square feet, exceeding the typical store size, and will provide two levels of underground parking. Thrive Living plans to start construction in early 2025, targeting completion by 2027. This represents the first residential development in the U.S. to incorporate a Costco. The project aims to generate rental income from Costco to support the affordable housing units, with a construction cost estimate of $425 million. It will create thousands of construction jobs and about 400 permanent jobs with the store's opening. The project gained approval under California's Assembly Bill 2011, which accelerates the approval process for affordable housing initiatives.

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